Summary: Thanksgiving is a time to count our blessings, and Texas is currently predicted to have the most resilient economy is these United States, so being a Texan should be high of our lists of enumerated benisons.
Latest Update: Friday, 17 November, 2023
Blessing to add to your Thanksgiving List. The Texas Economy.
Thanksgiving is a time to count our blessings, and Texas is currently predicted to have the most resilient economy is these United States, so being a Texan should be high of our lists of enumerated benisons.
Texas will have an $18.6 billion surplus and avoid a recession, comptroller projects
How Texas Created a Recession-Resilient Economy
Why are we still investing in Real Estate in this market?
NYSE President Bullish on Texas
• Texas will have an $18.6 billion surplus and avoid a recession, comptroller projects, The Texas Tribune, 05 October 2023
Texas is likely to avoid an anticipated recession and, on the contrary, is projected to have more than $18 billion in unspent money at the end of this two-year budget cycle, thanks to an unexpected increase in state revenue in recent months, Comptroller Glenn Hegar said Thursday.
“Despite sharply higher interest rates, household budgets stressed by inflation and adverse economic conditions among major trading partners, the national economy has continued to grow,” Hegar said in his Certified Revenue Estimate, updating how much money lawmakers will have to spend. "Meanwhile, the Texas economy has outperformed the national economy, and the economic outlook included with this revenue estimate does not assume a recession in Texas.”
• How Texas Created a Recession-Resilient Economy, Comptroller of Texas, October 2023
Some analysts have predicted another economic downturn practically since the nation emerged from the pandemic-driven recession of 2020. But as dire predictions surge and wane, Texas’ economic fundamentals help it face the prospect of any recession from a position of relative strength.
We anticipated slower growth in our revenue estimate, but we also know that Texas’ economy is better positioned than other state economies and the national economy to absorb slower growth rates,” says Hegar.
We attribute this durability to both good policy and good fortune. Diverse industries, a strong energy sector, business-friendly climate, steady population growth and a relatively young workforce contribute to our resiliency.
• Why are we still investing in Real Estate in this market? FortWorth, 14 November 2023
Our response surprises some; my No. 1 reason is the opportunity in the Fort Worth market. Between July 2021 and July 2022 Fort Worth added 52 people per day. The metro DFW area added 466 per day. According to a new study by Site Selection Group, Dallas-Fort Worth could grow to nearly 8.5 million residents by 2028. This means that the demand for residential real estate here in Fort Worth will most likely continue to increase.
As people keep moving here, the availability of affordable housing dwindles. The average sale price of a home in Fort Worth, according to the Greater Fort Worth Association of REALTORS, is $334,450; just a few years back in 2020, it was $234,900. Prices will most likely continue to increase as demand increases and supply continues to be constrained.
• NYSE President Bullish on Texas, Dallas Express, 12 November 2023
The head of the New York Stock Exchange said she expects continued growth from Texas’ already-booming economy.
The Lone Star State’s robust economy and attitude toward business make it uniquely positioned for success, according to New York Stock Exchange (NYSE) President Lynn Martin, who spoke at a Dallas Regional Chamber (DRC) event on Thursday.
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